[Alpha Biz=(Chicago) Reporter Kim Jisun] South Korea's three battery companies (LG Energy Solutions and Samsung SDI·SK-On) posted positive results in the first half of this year, but their operating profit ratio did not exceed 10%.

The first-half report cards of three domestic battery companies were released. LG Energy Solutions and Samsung SDI grew significantly compared to the same period last year in both sales and operating profit. Although SK ON failed to turn into a surplus, it has improved its overall profitability by reducing its deficit from the previous quarter, adding to the modifier "best-ever performance."

LG Energy Solution had the largest surplus among the three companies. Sales rose 73 percent year-on-year to 8.7735 trillion won, while operating profit also rose 135.5 percent to 460.6 billion won. Samsung SDI also posted sales of 5.84 trillion won and operating profit of 450.2 billion won, up 23.2 percent and 4.9 percent, respectively, from a year earlier. SK ON recorded sales of 3.6961 trillion won, up 187% from the same period last year. However, it did not escape the deficit with an operating loss of 131.5 billion won. Although it failed to turn into a surplus, it is reducing operating losses by 61.9% from the first quarter of this year and 59.7% from the same period last year.

However, in terms of operating profit ratio, LG Energy Solution (5.2%), Samsung SDI (7.7%), and SK On (-3.5%) all did not exceed 10%. In the case of Samsung SDI, it has achieved the highest operating profit ratio of 10% in its main business sector, the battery sector, for the first time since the launch of the electric vehicle battery business in the third quarter of last year. Although it boasted a solid performance in terms of profitability over LG Energy Solutions and SK On, it showed a setback in operating profit ratio this time.

The three battery companies announced that they will diversify their product portfolio to expand their global market share in the second half of the year.

 

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